The Recording Academy, Fender and more celebrate the successful measure, which will provide nearly $1 billion to music and arts funding to the state's public school students.
Inflation is still high historically, but encouraging news on the U.S. consumer price index rallied stocks on Thursday.
UMP China will now handle administration for RYCE Publishing, including some of China's biggest pop hits and Greater China rights over key K-Pop act copyrights.
Warner Music Group is the only major label that appears to have complied with the law as of yet.
Growth in streaming subscriptions, merchandising, touring offset slowdown in ad-supported revenues.
UMG reported growth in nearly all segments -- physical excluded -- with recorded music revenues up 10.1% and publishing revenues up 6.9%.
Investors bet Apple's move will trigger higher prices for streaming industry-wide.
Spotify and Universal Music Group should have much to say about the direction of the music business.
Also this week: Epidemic Sound names a CTO and CCO, UMG's °1824 hires a vp of content and more.
StemDrop will give TikTok's more than 1 billion monthly users the chance to create their own songs using music "stems" from an exclusive new track written by Max Martin, Savan Kotecha and Ali Payami.
